Europe Editor @energyvoicenews in Aberdeen. Views my own.
Stories: allister.thomas@ajl.co.uk
Feb 8, 2022 • 4 tweets • 2 min read
The idea of taxpayers paying for oil firms' decommissioning bills has been an ongoing issue we’ve tried to grapple with at EV – easily misrepresented because it's confusing.
The way analysts and commentators have explained it to me over the years is as follows...
In previous years, oil companies have paid more tax than they were due to – they’ve put money into the Treasury over and above their annual requirement.
When they get to the point of decommissioning – which is so costly that it effectively wipes out their profits...
